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I assume this "you'd be something, but you're a goddammed boozebag" speech is old hat to you. I am shaking my head as I write this. |
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So, they were talking on the radio about the $1 million/day powerball thingy and said "uncle sam will take more than half" -- why is this? Is it an AMT thing and AMT rates are really that high?
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ETA: Never mind, I found the form, and it looks like withholding should be at 25%. I don't know what the tax rate is on that income though. |
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The top bracket is still 35%. With the phaseout of exemptions and deductions, some people in the bulge have a higher effective rate, but by the time you're in the tens of millions (assuming the winner takes a lump sum) you're back at the 35% rate. |
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"Bombing them back to the stone age" is actually laughable idea. These cretins never left the stone age to begin with. |
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does Ann get residuals from our posts? |
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